President Lula's visit to India aims to enhance business ties across multiple sectors, particularly in agribusiness, where the current trade volume is relatively low. Despite India being the world's fourth largest economy and most populous country, its contributions to Brazilian agribusiness are minimal, with only US$ 4.03 billion in total trade recorded last year. Brazilian exports to India totaled US$ 3.2 billion, while imports amounted to US$ 824 million, indicating an unbalanced trade relationship.

Within the agribusiness sector, India holds a minor position, not even ranking among Brazil's top ten trade partners, and it stands fifth among Asian countries. Notably, sugar, soybean oil, and cotton lead Brazilian exports, while Brazil's imports primarily consist of fertilizers and pesticides—totaling US$ 544 million for agrochemicals alone. There is a growing Indian consumer interest in products like Brazilian soy oil, which they consider highly desirable, yet progress on negotiations is impeded by India's internal policy issues.

This disparity in trade dynamics highlights the need for both countries to work towards strengthening their economic ties. While opportunities exist, particularly in products like soybean oil, progress will require overcoming domestic restrictions in India and focusing on mutual benefits that could enhance market access for Brazilian agribusiness products. The conversation on improving trade relations could set the stage for more significant economic collaboration in the coming years.